Well yes, in your alternate reality there was only 2...

Well yes, in your alternate reality there was only 2 possibilities and no surprise scottm was first to like your post.

Those of us back in the real world understand there is a 3rd possibility. That you are wrong again.

As per the below, IRR can be calculated over any period, then annualized to create a %. So my statement that after 12 months the current IRR is negative is right and with the current cash outflows continuing it is misleading to suggest anything else.

The Internal Rate of Return (IRR) is the annualized interest rate at which the initial capital investment must have grown to reach the ending value from the beginning value.

The IRR measures the compounded return on an investment, with the two inputs being the value of the cash inflows / (outflows) and the timing (i.e. dates).

What about my other questions. I am sure @scottm at lest knows the answer to all 3
Has the JV being closed down.???
What is the price that Cronimet is paying EQR for their concentrate?
What was the production for MC and saloro last month?